LGI Homes (LGIH) Downgraded by BidaskClub

BidaskClub downgraded shares of LGI Homes (NASDAQ:LGIH) from a strong-buy rating to a buy rating in a research note published on Wednesday.

A number of other brokerages have also recently commented on LGIH. Wedbush raised shares of LGI Homes from a neutral rating to an outperform rating and increased their price objective for the company from $59.51 to $73.00 in a research note on Tuesday, February 13th. Zacks Investment Research raised shares of LGI Homes from a hold rating to a strong-buy rating and set a $91.00 price objective on the stock in a research note on Thursday, January 4th. Finally, ValuEngine raised shares of LGI Homes from a buy rating to a strong-buy rating in a research note on Sunday, December 31st. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and an average target price of $61.50.

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Shares of NASDAQ LGIH opened at $73.21 on Wednesday. The stock has a market capitalization of $1,651.92, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.10 and a beta of 0.13. LGI Homes has a 52 week low of $28.57 and a 52 week high of $79.55. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.16 and a current ratio of 9.16.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.03. The firm had revenue of $405.00 million for the quarter, compared to analysts’ expectations of $377.46 million. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. The firm’s revenue was up 71.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 EPS. equities research analysts expect that LGI Homes will post 6.11 earnings per share for the current year.

In other news, Director Ryan Edone purchased 1,400 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were bought at an average cost of $56.36 per share, with a total value of $78,904.00. Following the purchase, the director now directly owns 22,982 shares of the company’s stock, valued at $1,295,265.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Charles Michael Merdian sold 16,967 shares of the firm’s stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $63.80, for a total transaction of $1,082,494.60. Following the sale, the chief financial officer now directly owns 100,497 shares in the company, valued at $6,411,708.60. The disclosure for this sale can be found here. Insiders have sold a total of 114,432 shares of company stock worth $7,506,512 over the last ninety days. 13.60% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. Rhumbline Advisers boosted its stake in shares of LGI Homes by 2.9% during the 3rd quarter. Rhumbline Advisers now owns 33,813 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 960 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of LGI Homes by 384.7% during the 4th quarter. Advisor Group Inc. now owns 1,454 shares of the financial services provider’s stock worth $109,000 after purchasing an additional 1,154 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of LGI Homes by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 60,908 shares of the financial services provider’s stock worth $2,958,000 after purchasing an additional 1,179 shares during the last quarter. Swiss National Bank boosted its stake in shares of LGI Homes by 4.0% during the 4th quarter. Swiss National Bank now owns 31,281 shares of the financial services provider’s stock worth $2,347,000 after purchasing an additional 1,200 shares during the last quarter. Finally, Covey Capital Advisors LLC lifted its holdings in shares of LGI Homes by 7.6% during the 4th quarter. Covey Capital Advisors LLC now owns 28,230 shares of the financial services provider’s stock worth $2,118,000 after acquiring an additional 2,000 shares during the period. 84.84% of the stock is currently owned by institutional investors.

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LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

Analyst Recommendations for LGI Homes (NASDAQ:LGIH)

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